I have a direct debit from my Barclays sole account to our NatWest joint account. My pay goes into my account on the 15th. The direct debit goes out on the 22nd. The mortgage goes out of our joint account on the 25th.
Because the 22nd fell on a Saturday this month, the payment was not processed until Monday the 24th. A check at my local Barclays branch cashpoint showed that the money actually left that day. When I went to the NatWest on the 25th, they said that it had still not been received. Apparently it takes three days.
Three days??? Why? Surely these things are all automated on a computer and all that happens is that a few 0s and 1s move along some wires (possibly more 0s than 1s in my case).
Where is the money in the meantime? It isn’t in my sole account and it isn’t in our joint account – so where is it? I consider it to be my money all the time, yet it is nowhere where I can find it.
Today we have received a letter from NatWest, telling us that we have been charged £35 because there were insufficient funds in our account to cover the mortgage payment. Furthermore, the mortgage payment has not been paid, which has probably had an adverse impact on our credit rating.
On Monday, I will be writing to both banks. I want the £35 back from one or other bank. I want the mortgage to be paid ASAP. I want any damage to our credit score to be rectified. I want assurances this will not happen again.
And I’m going to copy the letter to the local trading standards office and to the Consumers Association.